Transformed Port Pirie lead smelter to be fully operational by end of 2016

19 May 2014

Editorial

Nyrstar has
announced a $514 million upgrade to its 120-year-old Port Pirie smelter
operations.

The ABC
reports that the Dutch company will finish the upgrade by the end of 2016, with
$291 million to be underwritten by the South Australian government.

"Today we announce that agreement has been secured for a
$514 million investment by Nyrstar which will be underpinned by the South
Australian Government providing a guarantee to transform this smelter and
secure a future for Nyrstar here in Port Pirie," Premier Jay Weatherill said at a conference late last week.

Nyrstar has also announced that it will end zinc production
at Port Pirie by the end of the July, with the cost of production higher than
at any other site it owns.

"The funding agreement gives us the certainty we need to
move forward and transform Nyrstar Port Pirie into an advanced metal recovery
and refining facility that will benefit all our employees, the Port Pirie
community and our investors," said CEO Roland Junck.

"We remain on track with work on site for this year,
construction work to begin early next year and the facility to be fully
operational by the end of 2016."

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